Oaktree Capital Management has agreed to invest $350 million in Fort Lauderdale, Florida-based Azorra, a commercial aircraft lessor. UBS Investment Bank was placement agent for Azorra.
FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Azorra Aviation Holdings LLC (“Azorra”) today announced that it has entered into an agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), under which Oaktree and Azorra’s founders will invest $350 million to expand Azorra’s commercial aircraft leasing business.
Led by a seasoned team of professionals that has worked together for well over a decade, Azorra intends to use the proceeds from the investment to accelerate its growth and solidify its position as the leading lessor in its segment, with a core focus on regional, small narrowbody and new technology crossover aircraft.
“We are thrilled to align with Oaktree as we shape Azorra’s platform to meet the unique needs of airlines during an extraordinary time in commercial aviation,” said John Evans, Azorra’s CEO. “Together with Oaktree, we are positioned to bring innovative fleet rationalization, transition and financing solutions on existing fleets and new aircraft for airline customers and OEMs.”
“Azorra is a proven leader in commercial aircraft leasing with the platform, expertise and capabilities needed to deliver comprehensive fleet solutions for airlines and OEMs,” said David Brown, Managing Director at Oaktree. “We believe Azorra is uniquely positioned to expand its market share, and we look forward to supporting its next phase of growth.”
UBS Investment Bank acted as exclusive placement agent for Azorra.
Azorra is a relationship-driven commercial aircraft lessor, providing lease, financing, and asset management solutions with a focus on regional, crossover and small narrowbody aircraft. Azorra’s team is led by industry veterans with a shared history of success and a wealth of experience in aircraft leasing. Since its inception, Azorra has completed transactions on 37 aircraft. The company currently owns and manages 11 aircraft and has purchase and lease commitments on an additional 6 aircraft.
For additional information, please visit us at www.azorra.com or on LinkedIn.
Oaktree is a leader among global investment managers specializing in alternative investments, with approximately $148 billion in assets under management as of December 31, 2020. The firm emphasizes an opportunistic, value-oriented, and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/